PNC Financial Services Group Inc. Sells 1,060 Shares of UGI Corporation (NYSE:UGI)

PNC Financial Services Group Inc. decreased its stake in shares of UGI Corporation (NYSE:UGI) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,211 shares of the utilities provider’s stock after selling 1,060 shares during the period. PNC Financial Services Group Inc.’s holdings in UGI were worth $437,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of UGI. Corvex Management LP purchased a new position in UGI in the fourth quarter worth $55,354,000. Ameriprise Financial Inc. increased its stake in UGI by 50.6% in the 4th quarter. Ameriprise Financial Inc. now owns 2,366,100 shares of the utilities provider’s stock worth $66,806,000 after acquiring an additional 795,093 shares during the last quarter. Sourcerock Group LLC increased its stake in UGI by 236.8% in the 4th quarter. Sourcerock Group LLC now owns 1,025,000 shares of the utilities provider’s stock worth $28,936,000 after acquiring an additional 720,700 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of UGI by 21.3% in the 4th quarter. Northern Trust Corp now owns 4,002,419 shares of the utilities provider’s stock worth $112,988,000 after purchasing an additional 703,491 shares in the last quarter. Finally, SIR Capital Management L.P. boosted its holdings in shares of UGI by 1,279.5% in the 4th quarter. SIR Capital Management L.P. now owns 729,800 shares of the utilities provider’s stock worth $20,602,000 after purchasing an additional 676,898 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Stock Performance

Shares of UGI opened at $35.75 on Friday. The business’s fifty day simple moving average is $35.93 and its two-hundred day simple moving average is $34.10. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. UGI Corporation has a 12 month low of $23.14 and a 12 month high of $37.42. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.71 and a beta of 1.05.

UGI (NYSE:UGI) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.77 billion. UGI had a return on equity of 15.73% and a net margin of 5.70%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. Research analysts anticipate that UGI Corporation will post 3.02 earnings per share for the current fiscal year.

UGI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.50 dividend on an annualized basis and a yield of 4.2%. UGI’s dividend payout ratio (DPR) is currently 78.95%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UGI. Wall Street Zen cut UGI from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Mizuho increased their target price on UGI from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th.

About UGI

UGI Corporation, together with its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.